Intro Cyber Risk in Manuf/Ind Processes

2 Days | 1.4 CEUs

OVERVIEW

According to IBM, Manufacturing ranks fifth among industries
most frequently targeted for cyber-attacks. It outranks Government and
Healthcare and is nearly tied with Retail. Manufacturing operations from supply
chain to production control and fulfillment increasingly rely networks and
automated control system. This elevates exposure to cyber-related loss that can
significantly impact a manufacturer. This is an introductory level course. You
will learn the fundamentals of cyber risk, how it affects manufacturing, and
basic strategies for reducing your exposure. The course format is a combination
of lecture, interactive discussion and exercises. No advance preparation is
required.

WHAT YOU WILL LEARN

Assess cyber [and other] risk inherent in your
business.

Surface risk you assume in vendor and other
external relationships.

Identify & prioritize basic risk mitigation for
efficient use of capital and resources.

Make informed decisions on cyber risk retention vs.
risk transfer.

Find help before and after a loss.

COURSE CONTENT

Basic concepts, definitions and terminology

Exposure

Risk

First party and third-party loss

Cyber risk

Vulnerability

Threat

Kinds of loss

Cyber risk Impact

Who is at risk

How big is the risk

What numbers don’t tell us

Basic threat economics concepts

How manufacturing operations create exposure.Part I of II, inherent risk in core operations

Chain of commerce and supply chain

Inventory management and material supply

Industrial and product design

Production control

SCADA and IoT

Delivery, distribution and fulfillment

Defects and delays

Back office, business process and reliance on
data

The human element

How Manufacturing operations create exposure,
Part II of II.Other exposures

Cloud services and other dependencies

Public infrastructure

Regulatory

Contractual

Threat actors, types and motivation

Multinational operations

Intellectual property, yours and others

Counterfeiting and brand dilution

Media

Marketing and communication

Crypto-jacking and other forms of resource
theft

Emerging trends in the dynamic cyber threat
environment.

Overview of recent studies ( ca 2018, 2017) on
cyber threat trends.

Risk mitigation and how making informed
choices affects quality and cost

Risk control frameworks and standards of care,
an insurer’s perspective

The past may not predict the future

Using common sense

How much mitigation is enough

Requirements flow-down from clients

Risk transfer options

Types of Insurance, traditional and cyber

Variation among insurance policies

Contractual risk transfer

Risk syndication and shared risk models

Where to turn for help. Discussion and wrap up

CLASS CANCELLATION:

IISE reserves the right to cancel a class up to 15 business days prior to the scheduled start date